Company intelligence
Pennsylvania Intergovernmental Cooperation Authority (PICA)
Financial Oversight for the City of Philadelphia
About Pennsylvania Intergovernmental Cooperation Authority (PICA)
PICA was created in 1991 to assist the City of Philadelphia in overcoming a severe financial crisis. The Authority was created through the joint efforts of concerned Philadelphians and State officials who envisioned a structure which would assist the City in putting its revenue collection and spending processes in order and at the same time reach a consensus on its future priorities, assets and limitations. The PICA Act was a compromise fashioned to meet the requirements of the Pennsylvania Constitution, the concept of local government Home Rule, and the interests of the State in the preservation of the financial integrity of its municipalities. PICA’s role, a combination of cooperation, assistance and oversight was determined to be of vital importance in both a financial and political sense. PICA was designed to be a catalyst in the City’s re-evaluation of the role and priorities of municipal government.
Verified activity
Signals from Pennsylvania Intergovernmental Cooperation Authority (PICA)
3 published signals
Research & Knowledge
Pennsylvania Intergovernmental Cooperation Authority (PICA) published a latest report comparing the FY21-25 and FY27-31 Five-Year Plans side-by-side to show Philadelphia moving from record reserves and strong operating results into a Five-Year Plan with planned deficits, major investments, and progress toward full pension funding.
Reported by Pennsylvania Intergovernmental Cooperation Authority (PICA)
Research & Knowledge
Pennsylvania Intergovernmental Cooperation Authority (PICA) published its FY26 Q4 Overtime Update report, highlighting overtime projections, special events, pay increases, vacancies, and changes in the citywide vacancy rate and overtime share of total Class 100 spending.
Reported by Pennsylvania Intergovernmental Cooperation Authority (PICA)
Capital & Finance
Pennsylvania Intergovernmental Cooperation Authority (PICA) projected an $884.4 million General Fund balance for FY26, up $84.6 million from Q3 projections and more than $400 million above the original Five-Year Plan.
Reported by Pennsylvania Intergovernmental Cooperation Authority (PICA)